Topic: How to become a bitcoin millionaire - page 2. (Read 4250 times)

I'm not sure if you're referring to the process of loading funds and cashing out, but there are a number of avenues to take with Bitcoin. You can hold, or sell some for cash (hard cash, bank, another electronic source), you can trade for gift cards and buy from popular marketplaces, or you can simply buy stuff using your coins as is.

I read a story a bit ago about a guy who become a "Bitcoin millionaire" and I was curious about how the process of "Trading" occurs within banks

The last time the price was below $400 per B⃦,  was also a time when crypto currency was younger  and more unknown and there was even more risk and uncertainty than there is today.

Some of those who 'bought in lower'  lost it to Gox;  or lost the value in some other way.   So anyways, buying in today is somewhat lower risk, so less reward.

I don't expect massive growth in value of a BTC vs Fiat Units in the short term, and the current price probably reflects a bit of speculation.

It's entirely possible that almost everyone who is going to adopt cryptocurrency for a while has  ("the early adopters").

Historically speaking -- it is not unusual for a new idea or technology to quickly saturate the market of innovators, and  then growth stalls,  and sometimes dies there,   because mainstream audiences are fundamentally different than the early adopters,  the mainstream is less likely to pick up new ideas -- old traditions are strong, and new ideas are adopted at a lower rate with reluctance and risk aversity.

There are lots of theories about 1 B⃦  becoming worth a large amount of fiat.
But it's not really going to happen,  unless and until crypto currency  begins to be adopted by the average person  who is risk averse and hesitant to jump onto just any cool new idea that comes along,  and if you are waiting for to happen --- it is probably 6 or 7 years,  if it will happen at all.

For now, most chance to growth of BTC will be more early adopters coming onboard; your best bet is new startups,  banks/bankers, hedge funds/wall st. traders,  small retailers,   retailers that themselves are trying to get into the market  as a new competitor ---  in other words  they are so small, even the "innovator" / "early adopter"   markets are valuable to them --- and by offering to do business in BTC  they have an edge,  that may  get their business some new customers.

Hi,

maybe you can offer Services for Bitcoin Useres. Such like happy-bitcoin.com

If you are doing good Things . . . you might be a bitcoin millionair some day.

Greetz Emily,

-----------------
Shops, Products & Services around Bitcoins: happy-bitcoin.com

Gah, it's so hard to decide what to do. If I buy now I just know that the price will tank hard. Of course, you could say that it will bounce back and go higher but there's nothing more frustrating when you buy in and find out that you could have got more coins for your $$$.

I think that buying some coins to hodl and then placing some speculative buy orders can work out. I've lost out on so much potential coin by not buying in lower, despite the talk of this next bubble.

Wow man great advice! You should become a hedge fund manager or something 

believe best thing always come true

I suggest you read about the history of oil.

Now there's a smart - and ethical - lad.

"I can see now that the Game reflects my own efforts to negotiate those old primal categories: individual, community, nation, planet. Inevitably, then, the Game comes with an attractive lure to be nationalistic, tribalistic, and provincial. It forces students to go through the process that we all go through as adults, in which we must examine, as I had done, the local cultures we come from and the world culture we might one day join. The Game makes it clear that, sooner or later, if students remain solely within their own cultures, loyal only to their "own kind," they will put the planet at grave risk. But if they embrace a larger vision, they have the opportunity to heal the planet and create peace. Students learn, in other words, that without a total collaborative effort, no one can succeed.

Of course, it's tempting to hold to an individualistic view and pursue short-term gains. It's certainly possible, over the arc of the Game, to seem to be winning: to increase your territory and your assets; to enter into alliances that benefit you and hurt your adversaries; to expand your military influence; to amass wealth and power at others' expense. But these victories are only apparent. You seem to be winning, but you're actually losing. The Game forces you to learn interdependency. If you behave as an island unto yourself, ultimately you will be isolated. And no matter how many resources you might have accrued, the planet as a whole will not achieve the global peace and prosperity that are the Game's definition of victory."
-John Hunter

I am a citizen of the world. You can be too.



"Nationalism is our form of incest, is our idolatry, is our insanity. "Patriotism" is its cult. It should hardly be necessary to say, that by "patriotism” I mean that attitude which puts the own nation above humanity, above the principles of truth and justice; not the loving interest in one’s own nation, which is the concern with the nation’s spiritual as much as with its material welfare — never with its power over other nations. Just as love for one individual which excludes the love for others is not love, love for one’s country which is not part of one’s love for humanity is not love, but idolatrous worship."
-Erich Fromm, in The Sane Society (1955)

"I am against any nationalism, even in the guise of mere patriotism. Privileges based on position and property have always seemed to me unjust and pernicious, as did any exaggerated personality cult."
&
"Nationalism is an infantile disease. It is the measles of mankind."
-Albert Einstein

To me the risk is small... If the price flounders around $500 for a long time, nothing was lost.

There are no guarantees that you will survive the drive to work tomorrow. There are big risks every time you step out your door. That is what life is about. You choose your path and hope it is the right one in the end. Risk is not unique to bit coin.   

no guarantees and a big risk, in everything that you offered

bitcoin to $10000? not likely in the foreseeable future buddy.

I will never sell either. I am "all in." The potential good this idea can do in the world is much bigger than any personal wealth I may have. 

With radical honesty one realizes that nothing is ever 100% certain (except existence itself)... But I get your point, it's the perception of certainty rather than the actual certainty.   Agree.

I love how shortsighted some people can be.

Price in November 200ish
Price in December 1200ish
Price in January 800ish IIRC -> omg bitcoin crashed! Look how volatile it is, bitcoin always goes down.
February through May -> total despair, price gradually decreased to 400ish with a low of 340ish FUD all around

A few days ago, price jumped by $100 and no one bats an eye, than the price drops by $40 and everyone loses their mind.

Look at the complete picture instead of only at the small red dots. There's much more green than red you morons.

They are talking about becoming millionares on fiat, is there is the case that each bitcoin worths 10 million usd (in 2050 when bitcoin is already in 4 planetary systems), so you can be a millionare with 0.1 btc.

If it was certain to go there, why would the major investors (with billions of dollars) not invest in this sure thing? I am positive they know about it already. It'd be stupid for people like Bill Gates not to buy every coin if they are that positive. Hint: there are no guarantees.

What he said. Safest, surest way to increase the value of your wealth is by melting shitmoney (AKA fiat) into Real Money (AKA crypto), and holding on for dear life.

People ask me all the time, "at what price-point will you sell?" and my answer is always the same: "I will never sell, I will hold onto my Bitcoin wealth until fiat no longer exists, and then carry on with life as normal."

If you're smart enough to comprehend why I'm linking this, you're smart enough to get filthy-rich with Bitcoin, even if you're poor.

Sell your body if you have no fiat wealth to melt, being liberated from the chains of wage-slavery for the rest of your life is worth it, I assure you.

Back when BTC was hovering the 100 range, a relative sold some property and have a few hundred thousand to invest. He knew about bitcoin and I told him that It would be a great idea to invest 10 percent into btc, which would have been around 30k. He didn't do it and literraly a month later when I told him that it was 1200 he about died and blamed me for not forcing the issue.. I said "what if it went to 10 dollars, you would have killed me"

I think BTC is still a good value at 500ish, buy as much as you can, when you can, thats all you can do. The sub 10 dollar days are long gone, heck, even the sub 200 dollar days are probably over..

Utter nonsense.


*Cough* - choke - what? 

No.

-B-